Liaoning Communications Investment Co., Ltd. acquired 9.4% stake in Liaoning Hongyang Energy Resource Invest Co.,Ltd.
December 09, 2020
Share
Liaoning Communications Investment Co., Ltd. signed the share transfer agreement to acquire 9.4% stake in Liaoning Hongyang Energy Resource Invest Co.,Ltd (SHSE:600758) on December 8, 2020. The consideration will be paid in cash for this transaction. The transfer price is the higher of the following prices for transfer: (1) CNY 3 per share; (2) 90% of the closing price of the underlying securities on the day when the last party to this agreement signs. On October 19, 2020, the board of directors of Shenyang Coal Industry (Group) Co., Ltd. reviewed and approved the proposal related to this acquisition. On November 13, 2020, the Liaoning Provincial SASAC approved the acquisition plan. On November 18, 2020, the board of directors of Liaoning Communications Investment Co., Ltd. reviewed and approved the proposals related to the acquisition.
Liaoning Communications Investment Co., Ltd. completed the acquisition of 9.4% stake in Liaoning Hongyang Energy Resource Invest Co.,Ltd (SHSE:600758) on December 10, 2020.
Liaoning Energy Industry Co Ltd, formerly Liaoning Hongyang Energy Resource Invest Co Ltd, is a China-based company principally involved in the manufacturing and sales of coal and electricity, urban heating and the provision of industrial steam services. Its coal types are mainly metallurgical coal and thermal coal, which are sold to large steel companies and power plants. The company mainly has two cogeneration power plants. The Company principally conducts its businesses in Liaoning and Inner Mongolia Provinces in China.